Stathera Raises US$15M Series A Funding Round
Stathera, a Montreal-based semiconductor company specializing in MEMS (Micro-electromechanical Systems) timing solutions, has successfully raised a total of US$15 million in its Series A funding round. The funding was co-led by BDC Capital's Deep Tech Venture Fund and Celesta Capital, with participation from strategic investors such as MediaTek, Seiko Epson, and TXC. BDC Capital Partner Charles Lespérance and Celesta Capital Partner Terry Gilton will join Stathera's Board of Directors as a result of the investment.
The capital raised in this funding round will be utilized by Stathera to drive the commercialization of its DualMode GEN1 MEMS timing product line. The company plans to increase its production capacity to meet growing customer demand and further develop its GEN2 high-performance technology. Additionally, Stathera aims to establish strategic partnerships to facilitate global distribution of its products. Notably, the company has already entered into a commercial collaboration agreement with South Korean conglomerate Doosan and is actively pursuing partnerships with industry leaders like MediaTek and TXC, who specialize in semiconductor and quartz timing, respectively.
Overall, the funding received will enable Stathera to accelerate the market availability of its MEMS timing solutions, enhance production capabilities, and advance its innovative technologies under the leadership of CEO George Xereas.